What is fashion? What is luxury? Does fashion exist in luxury and luxury in fashion, or are they two separate and distinct worlds? Is fashion an art form or is it business? Does luxury still exist in the 21st century, or has its genetic mutation – imposed by the spreading of the ’80s affordable luxury as a means of brand extension – decreed its own demise? Is luxury still the cultural expression of a world of craftsmanship and visionariety, which is the interpreter of tradition that seduces thanks to its innovative abilities? The purpose of this Master is to answer these and more questions by closely examining the fashion market, its interpreters, the different business models, the communication in the fashion industry. The concept of luxury will be examined in different socio-cultural contexts, and the strategies of seduction and expansion employed by the big brands in mature markets and in BRIC economies will be identified through the study of the monopoly exerted by the big luxury industry cartels in the fields of fashion, automotive, yachts, watches, lifestyle, food & beverage, gateways.

Start date: 01/2017

Language: English

Description:

The Master targets the fashion and luxury industries. The fashion system conceived as a contemporary industry that finds great opportunities for development, mainly thanks to a new way of understanding the marketing mix: the fashion product of the third millennium is refined but wearable, original but timeless, the price is affordable and represents a discriminating factor in the target (a “mental” discriminating factor actually), its distribution (place – focus on BRICS) is international, global indeed while still retaining a strong local recognition resulting in a product customization in different markets, communication makes use of new marketing models (digital, social networks, blogs, viral communication, sensory communication, video-communication) and of the power acquired by the reputation of a brand in the consumer’s mind. Luxury, instead, is analysed as a handcrafted creation which is the result of tradition, innovation, know-how, both intrinsic and perceived qualities, economic instruments, a desire promoting social distinction by influencing purchasing decisions, but also as an exercise of power and as an industrial sector which sees the highest growth margins (EBITDA). We will study the distribution policies, the luxury marketing pyramid, brand value, the suggestion of lifestyle in the brand and product communication.

Historical development of Italy as a leader in high-quality luxury brands in different fields; Italian cities as a background for luxury products and promotion, Italy as a journey through luxury and as a leader destination.

The urban environment creates social, cultural, visual and commercial trends. Contemporary luxury is not immune to the changes of the spirit of time.

​Heritage

Heritage and innovation are empty words if you do not understand the mix of know-how and intuition behind the concept of a great luxury product.

​Craftsmanship

Craftsmen have become artists, and then brands we buy worldwide.

​Quality

Quality can be intrinsic or perceived, so actually luxury does not exist: we create it.

​Price

Luxury is the best thing money can buy, but also the best thing money cannot buy.

Prestige

luxury as social recognition.

​Brand Management

Evolution of luxury brands. Reputation and brand equity.

​CRM

The evolved consumer wants to be cuddled. The luxury world knows it and develops its marketing into experiential and multi-sensory marketing.

​Luxury Communication 2.0

Communicating the luxury in the time of the Internet (and similar).

Faculty:

Coordinator: Fabiana Romano
Degree in Economics at LUISS – Guido Carli, in Rome; specializations in “Integrated Communications” and “Media Training & Public Speaking” at Florida State University (USA) and Luther Pendragon (UK). From 1994 to 2000 she works in New York, Los Angeles and Paris in the fashion industry and as Executive Producer for TV sport productions. In 2000 she moves back to Italy and after managing the start-up of the External Relations area for a leading multinational group in the finance sector, she is in charge of the Internationalization of an important public institution. In 2004 she founds Combust, a marketing and communication agency. Member of AIF, since 2006 she teaches at IED and in post-graduation masters. Since 2009 she teaches at University of Minnesota, Michigan State University and Santa Barbara City College. Since 2010 she is the Editor in Chief of OM Magazine, a quarterly luxury and lifestyle three-lingual magazine. Author of the book “Passione I.T.A.L.I.A” published by Mondadori (2011).

Fabio Attanasio
Blogger, menswear consultant and freelance journalist for Italian and international newspapers such as GQ Italia, Fashion Illustrated, Arbiter, Vedomosti and RBC Daily. His “The Bespoke Dudes” blog is the young Italian voice of bespoke tailoring and artisan excellence.

Laura Buonocore
Corporate Events Manager and Corporate Public Relations for Far East and Japan, Salvatore Ferragamo. Fashion International Press Office.

Caterina Zavolta
Education in Languages and International Communication and a Master in Digital Marketing at LUISS Business School, after fulfilling some management charges in multinational corporations, Caterina is Co-Founder and Managing Director of Webize. Fashion market expert, she is also a contributor for OM Magazine.

Giorgia Baranello
Degree in Business Communication Sciences at La Sapienza University and a Master in Digital Marketing at LUISS Business School, after an experience as Communications and Press Office manager in various national organizations, Giorgia is Co-Founder and Marketing Manager of Webize.